-

Vince McMahon sells over 2 million WWE shares

WWE Chairman and Chief Executive Officer Vince McMahon sold 2,191,894 shares of WWE’s Class A common stock, netting him nearly $40 million according to the 8-K document filed yesterday with the Securities and Exchange Commission.

The shares sold represent around 6% of the company’s outstanding shares of Class A common stock. McMahon owns 37,080,747 shares of the Company’s Class B common stock, around 86% of the Company’s total voting power and approximately 48.8% of the Company’s total outstanding shares of common stock.

The filing says that other than this sale, there are no plans to sell any more shares and intends to continue in his capacity as the Company’s Chairman and Chief Executive Officer for the foreseeable future.

The reasoning behind the sale was listed as, “estate planning purposes for the benefit of Mr. McMahon and certain members of Mr. McMahon’s family.”

Colin Vassallo
Colin Vassallohttps://www.wrestling-online.com
Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

Stories you might also likeRELATED
Recommended to you

LATEST NEWS

Last woman standing match headlines Raw tonight

The road to WrestleMania continues tonight on Raleigh, North Carolina where Monday Night Raw will be headlined by a...

Wrestlers who switched from the ring to training horses

It is not uncommon to see athletes try their hand at different sports, but in this case, we have...

Money, history, and magic led Mercedes Mone to AEW

In an extensive interview published today on ESPN.COM, Mercedes Mone said that she signed with AEW because of the...

Discover more from Wrestling-Online.com

Subscribe now to keep reading and get access to the full archive.

Continue reading